New Critical Minerals Strategy Positions Canada as the Leading Supplier of the Mined Materials Essential to a Lower Carbon Future

OTTAWA, ON, Dec. 9, 2022 /CNW/ - The Mining Association of Canada (MAC) congratulates the Government of Canada on the release of its Critical Minerals Strategy (CMS), a 21st century industrial strategy that is built on Canada's strength as a globally-leading supplier of sustainably produced minerals and metals needed to enable the energy transition.

"The Government's CMS is clear, focused and action-oriented," said Pierre Gratton, MAC's President and CEO. "It articulates an end-to-end industrial strategy that starts with early exploration to mining through to critical manufacturing sectors essential to fighting climate change. It is arguably the most significant industrial strategy the country has seen in decades."

The CMS integrates and builds upon significant federal government investments in critical minerals announced in Budget 2022 and the Fall Economic Statement (FES). The FES also signaled that more is to come in future budgets to support the CMS's implementation. MAC is both encouraged and excited by the opportunities offered to Canada's mining sector by this strategy, particularly, as well as by the opportunity to play a key part in building the Canada of the future. MAC is also encouraged by the recognition that more must be done by all levels of government to improve the timeliness of new project approvals, while maintaining Canada's high environmental standards and commitment to Indigenous rights.

"Canada has a competitive advantage over many countries in the ESG space," added Gratton. "Our abundance of clean power means our minerals and metals emit some of the lowest carbon in the world. Our regulatory systems are world-class. Indigenous rights are constitutionally respected and increasingly embedded in legal frameworks. Further, MAC has developed and implemented a mandatory ESG program, Towards Sustainable Mining, that commits to key objectives such as Indigenous engagement, biodiversity protection and climate change. The world needs more Canadian mining and, given this, we need to look for ways to bring new projects forward expeditiously. Our allies are counting on us to do so and so are Canadians."

A recent survey by Abacus Data found support for Canadian mining at an all time high, specifically in the critical minerals space where almost 90% of those surveyed like the idea of Canada being a preferred source for critical minerals and would like to see the government take a number of steps to support this approach.

Gratton also emphasized that the strategy must now be implemented, and quickly. "MAC looks forward to working with the Government of Canada to help deliver on the strategy's promise. Speed matters, as Canada is not alone in vying to capitalize on the critical minerals opportunity," said Gratton. "Greater still, fighting climate change can't wait, and without the minerals and metals necessary to fight it, we will fail. The challenge before us is big, but this strategy squarely puts us on the path to success."

The mining industry is a major sector of Canada's economy, contributing $125 billion to the national GDP and is responsible for 22% of Canada's total domestic exports. Canada's mining sector employs 665,000 people directly and indirectly across the country. The industry is proportionally the largest private sector employer of Indigenous peoples in Canada and a major customer of Indigenous-owned businesses.

About MAC

The Mining Association of Canada is the national organization for the Canadian mining industry. Its members account for most of Canada's production of base and precious metals, uranium, diamonds, metallurgical coal, mined oil sands and industrial minerals and are actively engaged in mineral exploration, mining, smelting, refining and semi-fabrication. Please visit www.mining.ca.

SOURCE Mining Association of Canada (MAC)

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